A handful of major companies, including Oracle and Broadcom, reported quarterly results. The Q3 earnings season has been strong, with a 13.4% jump in earnings per share estimated for the S&P 500. Retailers like GameStop, AutoZone, and Chewy provided insights into consumer spending patterns. Oracle’s AI costs exceeded expectations, causing a market dip. Adobe and Broadcom also concluded the third quarter reporting season.

Broadcom’s record revenue in Q4 was driven by AI semiconductor growth. RH stock rose after its Q3 earnings release. Lululemon’s CEO announced stepping down as the company reported strong earnings. Costco beat Wall Street’s expectations across all key metrics.

Toll Brothers’ stock fell due to promotional activity impacting margins. Campbell’s sales declined, and Victoria’s Secret shares rose on Q3 beats. HPE shares fell as Q1 revenue forecast fell short. Mentions of AI on earnings calls hit a record high.

Read more at Yahoo Finance: Broadcom stock falls despite upbeat outlook, Lululemon pops, Costco dips